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posted Jun 1, 2019 8:29:42 AM

Does a direct rollover from a ESOP retirement plan to a traditional IRA treated as income? I entered my 1099-R into Turbo Tax, and it is coming up as taxable income

Does a direct rollover from a ESOP retirement plan to a traditional IRA treated as income? I entered my 1099-R into Turbo Tax, and it is coming up as taxable income. Yes box 7 is checked as G

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1 Replies
Level 15
Jun 1, 2019 8:29:44 AM

Income, yes, on the income summary screen.   Taxable income, no, on line 4b on the 1040 screen.

If on line 4b, the delete the 1099-R and re-enter.  Code G should also have a zero in box 2a.